Adagene Inc. Sponsored ADR (NASDAQ:ADAG) Given Average Recommendation of "Buy" by Analysts

Key Points

• Adagene Inc. (NASDAQ:ADAG) has an average analyst rating of "Buy" from five covering firms, with an average 1-year target price of $8.00.
• Recent analyst updates were mixed: Wall Street Zen upgraded the stock to hold, Weiss Ratings reiterated a sell rating, and Guggenheim raised its target price from $9.00 to $10.00 while maintaining a buy rating.
• The company last reported quarterly revenue of $3.84 million and EPS of ($0.04); shares recently traded at $3.69, below the consensus target, while institutional ownership stands at 9.51%.

Shares of Adagene Inc. Sponsored ADR (NASDAQ:ADAG - Get Free Report) have received an average recommendation of "Buy" from the five ratings firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $8.00.

Several research firms recently issued reports on ADAG. Wall Street Zen upgraded Adagene to a "hold" rating in a research note on Saturday, March 21st. Weiss Ratings reissued a "sell (d-)" rating on shares of Adagene in a report on Monday, April 20th. Finally, Guggenheim boosted their target price on shares of Adagene from $9.00 to $10.00 and gave the company a "buy" rating in a research report on Monday, April 6th.

Institutional Trading of Adagene

A number of institutional investors have recently bought and sold shares of ADAG. Fifth Lane Capital LP grew its position in shares of Adagene by 427.3% during the 4th quarter. Fifth Lane Capital LP now owns 145,000 shares of the company's stock worth $274,000 after purchasing an additional 117,500 shares in the last quarter. Exome Asset Management LLC acquired a new stake in shares of Adagene in the fourth quarter valued at approximately $2,004,000. SmartHarvest Portfolios LLC bought a new stake in shares of Adagene in the fourth quarter valued at approximately $73,000. Citadel Advisors LLC bought a new stake in shares of Adagene in the third quarter valued at approximately $80,000. Finally, Gordian Capital Singapore Pte Ltd grew its position in Adagene by 101.4% during the third quarter. Gordian Capital Singapore Pte Ltd now owns 48,342 shares of the company's stock worth $96,000 after buying an additional 24,342 shares in the last quarter. Institutional investors own 9.51% of the company's stock.

Adagene Price Performance

Shares of ADAG stock opened at $3.69 on Friday. Adagene has a 12-month low of $1.30 and a 12-month high of $4.75. The firm has a 50 day moving average price of $3.68 and a two-hundred day moving average price of $2.66. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.07 and a current ratio of 3.07.

Adagene (NASDAQ:ADAG - Get Free Report) last posted its earnings results on Saturday, February 14th. The company reported ($0.04) EPS for the quarter. The firm had revenue of $3.84 million during the quarter. Research analysts predict that Adagene will post -0.49 earnings per share for the current year.

About Adagene

Adagene Inc, headquartered in Suzhou, China, is a clinical-stage biopharmaceutical company specializing in the discovery and development of antibody-based therapeutics for cancer and immune-related diseases. Founded in 2017, the company leverages its proprietary immunome technology platform to mine human antibody repertoires and engineer novel monospecific and bispecific antibodies. Adagene's pipeline includes multiple candidates in preclinical and early clinical development, with a focus on targeting tumor microenvironments and modulating immune checkpoints to enhance anti-tumor efficacy.

At the core of Adagene's research and development efforts is its Bihanc™ antibody platform, which combines combinatorial phage display, structure-based design and artificial intelligence to optimize binding affinity, specificity and developability.

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